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CBS
Nov 26, 2012 6:00pm PST
vasquez, cbs 5. >>> and the cliff. coming up in the next half hour, avoiding the fiscal cliff. congress back at work after the holiday break and shifting view op tax -- on tax reform and their demand from democrats. >>> and why more workers at a bay area airport could be allowed to carry firearms. >>> a bay area college launches a new recruiting strategy. why it is spending six figures to target a specific group of students. ,,,,,,,, when i take a picture of this check, it goes straight to the bank. oh. oh look the lion is out! no mommy no! don't worry honey, it only works on checks. deposit checks from your smartphone with chase quickdeposit. just snap a picture, hit send and done. take a step forward and chase what matters. oh, it's great! now i can brew my coffee just the way i love it. how do you do that? well, inside the brewer, there's this train that's powerful enough to carry more coffee and fresh water to make coffee that's stronger and bigger... and even hotter! actually, i just press this button. brew the coffee you love -- stronger, bigger, or hotter -- for ways to hit the b
CNBC
Nov 26, 2012 7:00pm EST
the nation's economy plummets off the tax and fiscal cliff. is congress any closer to finding common ground? let's get right to our special guest, oklahoma republican senator tom coburn. he's the author of "the debt bomb." welcome back, senator coburn. you snow, senator, is it possible, and this is a big question here at cnbc, is it possible to rise above the partisanship, number one, and number two, this is my own kibbitz, to produce a deal that would help the country and help the country grow? is a good deal, not a bad deal? >> no, i think that's possible. larry, the one thing that all the media today, i've done a lot of interviews and all last week. they are wanting to talk about taxes. you can't raise taxes big enough to solve this problem. i don't care where you go to get them. if you don't significantly structurally reform entitlements, you can't fix this problem. and so with the news media all centered on tax increases rather than the real problem, because you -- you can take over 100,000 a year and take everything that they made over that and confiscate it all, you're not going to c
FOX Business
Nov 27, 2012 6:00pm EST
. ♪ gerri: tonight, no clarity from congress from the fiscal cliff. will the american people end up being the big loser? and with the lame-duck congress back in session, new warning about rules and regulations that it your way. welcome to "the willis report." hello, everybody. the white house trying to save face by saying it is wrong to think about talks to avert the thistle class have broken down, but the evidence is mounting. the president pushing tax checks on those making over 250,000. all that promise, the second meeting between president and congressional leaders is an even scheduled yet. senate majority leader harry reid refusing to put cuts on the table and saying it is republicans who are holding up negotiations. should we expect to go right over the cliff? let's start by talking about whether it is impossible to get some kind of thoroughgoing resolution of this issue. >> at think it is, but we have to be working on a full-time. the president needs to be here talking to members of congress and working out a big deal, meaning tax reform, and panama reform, and other spending contr
FOX Business
Nov 26, 2012 9:00pm EST
cuts for those earning $250,000 a year in social security. it will not be part of the fiscal cliff. so we are going to talk about the compromise. we have a congress and to talk about this with us. >> and you for having me cheryl: or a little bill? >> we were waiting and hoping to compromise with its administration. but they they would just never come to the table. >> these democrats want to continue spending on social programs, republicans don't want tax cuts to be touched. you think we can have coromise from both sides on each of these issues? the rhetoric that we are hearing on a television screen is pretty negative. >> he did say that we want and the republicans will reach out to less. cheryl: after the last election, the november election, it was a referendum on many republicans. some of them walked away and said, okay, we did not get the senate back, we are moving forward. our republican candidates did not win the presidency were many officers. >> people were looking round the waist deep in seeing a lot of their friends have lost. barack obama may have won the white house, but e r
NBC
Nov 27, 2012 4:30am PST
to avoid the so-called fiscal cliff where automatic tax hikes and spending cuts kick in at the end of the year if a deal is not reached. nbc's tracie potts has new details this morning from washington. >> reporter: today president obama meets with small business leaders, continuing his push for higher taxes for the wealthy. a new white house economic reports warns if tax breaks go away, the average middle class family willow uncle sam another $2200 next year. >> it seems to be a thing that we can all agree on, that middle class families should see an extension of these tax cuts. >> reporter: some prominent republicans who have been dead set against raising taxes on anyone, now hint they may consider other options. >> we've been open to revenue by closing loopholes as long as it's tied to spending cuts and pro-growth tax reform that broadens the base and lowers rates. >> you don't raise rates, you just cap the amount of itemized deductions of taxpayers. >> reporter: the bottom line is america is borrowing too much money trying to keep medicare and social security afloat. >> there's
CNN
Nov 27, 2012 2:00am PST
-term. >> there are some analysts that are saying, you know, just let us fall off that fiscal cliff. that the congress is actually overhyping that threat. that the cuts are going to take quite a bit of time to actually settle in. how do you feel about that? >> right. i think the best way to think of the fiscal cliff is not as a cliff or a slope or anything top graph cal. i would think of it like a flash diet. if you've been bingeing on deficits, the same way we have been, i think for good reason for some time because the economy has been weak, if you've been bingeing at some point you need to get on a diet. what the fiscal cliff is essentially is it's a flash diet. all of a sudden taxes go way up and spending goes way down. what happens when you enter a serious diet you don't announce that you're going to stop eating lunch and fall on your face immediately. rather the nourishment you're depriving yourself of slowly weakens you to a point where you grind to a halt. that, i think, is what will likely happen and that's what the cbo has said will happen in the first half of next year, we slowly enter resc
FOX Business
Nov 27, 2012 1:00pm EST
and counting until that fiscal cliff. white house and congress will appear no closer to reaching a deal or even talking about one for that matter. how long will it take to get some action? tracy: if only. a dire warning on housing. despite new signs of recovery, fiscal risk expert chris whalen will tell us why he says housing is going to drag the economy back into recession next year. ashley: talk about bah humbug? would you like to win half a billion dollars? that is a stupid question. of course you would. just before the holidays as well. the record powerball jock pot is getting bigger. we'll take you, we'll tell you actually your chances of winning the prize and it is not very good but you can't win if you don't play as the lottery says. i know you hate it. tracy: i do. i absolutely clearly opposed to it. ashley: i went hate it when i win but i will remember you. tracy: thank you. ashley: first time for look at stocks at this hour as we do every 15 minutes. down to nicole petallides on the floor of nyse. nicole, stocks at least coming off early losses. >> right. we've improved some. i don't
CBS
Nov 26, 2012 5:00pm PST
three weeks left before the fiscal cliff, the clock is ticking for president obama and congress. >> the clerk will read the communication. >> reporter: lawmakers are back at work and under the deadline pressure. >> we can solve the greatest economic emergency facing the nation today. >> reporter: white house economist say without a deal to avoid the fiscal cliff, americans may start closing their wallets during the critical holiday shopping season. and curb their spending well into next year. >> they think that it is important that congress extends the middle class tax cuts without delay, without drama. and it is because it will help to maintain the increase in the consumer confidence that we have seen. >> reporter: both sides say they are ready to compromise to avoid the nearly $600 billion in tax hikes and mandatory spending cuts, scheduled to kick in on january 1. but the taxes, they remain the sticking point. republicans and congress, they have been long opposed to any tax increases, but the gop lawmakers say that they are open to raising more revenues through the tax ref
MSNBC
Nov 27, 2012 1:00pm PST
someone who testified in front of congress to sway congress on the fiscal cliff? stay with us. [ female announcer ] a classic meatloaf recipe from stouffer's starts with ground beef, unions, and peppers baked in a ketchup glaze with savory gravy and mashed russet potatoes. what makes stouffer's meatloaf best of all? that moment you enjoy it at home. stouffer's. let's fix dinner. ari melber, karen finney, and professor michael eric dyson, until i had the shingles. i have never encountered such a burning sensation... it was like a red rash. like somebody had set a bag of hot charcoal on my neck. stay with us. it's something you never want to encounter. for more of the inside story, visit shinglesinfo.com i've got a nice long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b medical expenses. the rest is up to you. call and find out about an aarp medicare supplement insurance plan, insured by unitedhealth
NBC
Nov 27, 2012 4:00am PST
. >> this congress is already one vote away from avoiding the fiscal cliff. >> one vote could keep players still far from agreement. >> and no word yet on when the next white house meeting may happen between the president and these key leaders on capitol hill. lynn? >> tracie potts in washington. thank you. >>> authorities in cairo are bracing for more protests in tahrir square as outrage grows over egyptian president mohamed morsi's decision to grant himself sweeping new powers. we have a live report from cairo with the latest. iman, good morning. >> reporter: good morning. thousands are pouring into the square angered by the decree. let's talk about the protests taking place. close to tahrir square is the u.s. embassy. today riot police outside the embassy compound fired teargas, pelted protesters with rocks to try to keep them back. the protesters also exchanged throwing stones at the riot police. that incident brings back serious concerns for u.s. officials because several months ago, back on september 11th a similar scene erupted outside the u.s. embassy. there's growing concern about the secur
NBC
Nov 27, 2012 11:00am PST
avoiding the fiscal cliff. >> reporter: and no word yet on when the next white house meeting will happen. tracie potts, nbc news, washington. >>> thank you. the governor of new york says in some ways superstorm sandy is worse than hurricane katrina. governor cuomo says sandy hit a more densely hit area. the governor says his state now needs $42 billion to recover from all that damage. $9 billion of that amount will help prepare for future storms by protecting the power grid and the cell phone network. >>> a spokesperson for the israeli army is under fire after appearing online in black face. scott mcgrew says it is a startling misstep for an organization that has been tech savvy until now. >> we were talking about how the israeli defense force was using twitter and youtube and facebook to generate support in ways that we had never seen before during war time. but this picture is doing just the opposite. this is idf spokesperson on facebook. he smeared his face with mud and he has written the caption "obama style." he has since taken his facebook pictures private. one commenter asked if i
CNBC
Nov 27, 2012 4:00am EST
the fiscal cliff and very interesting last week as congress was on recess on vacation, the markets were you up. you now that congress is back in seg, there's a lot of jitteriness and i think you'll continue to see this until there is a resolution at least until we see that the fiscal cliff is being averted, either with a bridge or something more comprehensive and permanent, which is highly doubtful in a lame duck congress. >> for example the durable goods orders, we've seen a fall off in investment. is that owed to this uncertainty over the fiscal cliff? >> absolutely. capital spending is on strike here in the united states and has been for a while. but the good news is 2013 should be the year that certainty replaces uncertainty. unleashing a lot of pept up demand. so we can make the case that we'll see an acceleration of gdp growth with this unleashing of pent up demand in 2013. >> you have a price target yet for the end of next year? >> well, no. we think that we'll probably come in in year somewhere with the s&p up 10%, 12%. and i think we could very well do that next year. particularly
CNN
Nov 26, 2012 4:00pm PST
on their plate. we're not talking about turkey. we're talking about the fiscal cliff. one of the urgent matters this lame duck congress needs to address before the end of the year and even though the tax increases are going to take effect in 36 days, there's still only talk of a compromise, so can congress actually walk the walk or are we going to go off this cliff? up next, mike lee of utah. really appreciate you taking the time. you wrote an op-ed in the washington times and said quote, delaying significant fiscal restraint will send the wrong signal and may serve as taping point for our economy. so you're fear is that interest rates could surge. to be father, we've had this disastrous situation for years and interest rates have kept falling in spite of all worries that there would be a disaster. >> that's right. that's one of the things that distinguishes the fiscal cliff, which we're coming up against right now. from what i described yesterday says the fiscal avalanche. we can see when the fiscal cliff is about to hit. the avalanche occurs when people stop buying u.s. treasury instruments a
Comedy Central
Nov 26, 2012 11:30pm PST
. the peabody people are watching i'm ready to submit. what's everybody talking about? >> the fiscal cliff. >> stephen: fiscal cliff, yeah. >> trillions of dollars of spending cuts and tax increases that are going to happen when the ball drops on new year's eve unless president obama and congress come to some sort of compromise. >> stephen: all right so, we're all doomed. >> it's like the movie thaw you have to either cut off your arm or die. so they will come-- they will cut off their arm. >> stephen: do you know, do you know what kind of ratings the news could get if they could get politicians to cut off their arms on camera? okay. -- (cheers and applause) >> stephen: as i said senior white house correspondent for abc news. the only news anybody watches any more. >> i think that's true. >> stephen: and you have got eye new book here called the outpost, an untold story of american valor. this is about the war in afghanistan. >> it's about one combat outpost in afghanistan, 14 miles from the pakistan border, built at the bottom of three very steep mountains, built in 2006. and overrun in 2
KICU
Nov 26, 2012 7:00pm PST
, to look over the so-called fiscal cliff. some existing tax cuts will expire. that could slow the economy or even move it back into recession. up until now, republicans have been unwilling to consider raising taxes, something that democrats say has to change. >> as president eisenhower says, there will have to be compromises and seeking the middle of this rote isn't just acceptable, it's the only way forward. >> most republicans signed a pledge to never raise taxes, but gop law makers say that now they'll have to put that pledge aside for the good of the nation. >>> on wall street, the markets.finished mixed, nasdaq gained nine, apple leading the way up 8%. >>> shareholders. some analysts had suggested that investigators are underestimate's facebook's growth potential from ad revenue. the stock gained 8% today but is still well below its public offering price. six months ago, the company went public with an ipo price of $38 a share. >>> securities and exchange commission. walters who's a democrat serves as a democrat, she takes over for mary shapiro, shapiro leaves next month in the wake
ABC
Nov 27, 2012 6:00am PST
-qaeda affiliates. >>> lawmakers trying to avoid the fiscal cliff, automatic tax hike for all americans, unless congress and the president can compromise. biggest obstacle is a pledge of no tax increases of any kind signed by most republicans. grover norquist is behind the pledge and has convinced thousands of republicans to sign the pledge in exchange for helping them get reelected. some republicans open to breaking the pledge say they will do it by closing loopholes but say entitlement reform must be part of the discussion. >>> do you think you are paying -- >>> good morning. home prices continue to climb nationwide up 3% in september compared to a year ago. in the san francisco area it was 7 1/2% compared to a year ago. meantime, watch for your landlord to jack up rent. recents are up 4.1% this year, watch for rents to go up 4.6% next year and 4.7 the year after. zillow buying hot pads for 16 million dollars, has 19 employees will stay in san francisco, zillow says the move will help it increase the number of leads it sends to landlords. watching ebay today, shares slightly lower stock hit a
MSNBC
Nov 27, 2012 2:00am PST
to skyrocket. >> this congress is already one vote away from avoiding the fiscal cliff. >> reporter: one vote with key players still far from agreement. no word yet on when the next white house meeting might take place. lynn? >> tracie potts for us in washington, thanks. >>> last night on "hardball," republican senator tom coburn told chris matthews about his vision for averting the fiscal cliff. take a listen. >> there's no question we can have the rich pay more, but that won't solve our problem. >> i agree. >> and with that comes negatives. the real problem is is you've got an entitlement system that's out of whack, and the demographics are exaggerating that. and you've had discretionary spending increases, you know, the budget of this country this year is twice what it was 11 years ago. and a good portion of that is discretionary. some of it, $100 billion a year is the war, but the rest of the government has grown. so we have to do both. and we have to make sure that whatever we do does not hurt us but gets us on the way to recovery. >> be sure to watch "hardball" with chris matthews weekd
FOX Business
Nov 27, 2012 4:00pm EST
is ticking. it's been three weeks since the election and congress really no closer to a deal on the fiscal cliff, unless they're not telling us something. that's a possibility. now both sides appear to be focusing on what they want to rule out rather than what they're willing to compromise on. we're live on capitol hill with the very latest. david: also, we held a small business summit right here on "after the bell," and it looks like the president was watching. he has invited small business owners to discuss what they want to see from congress. we'll be talking behind the closed doors with one of those who was behind the closed doors, the ceo of bottom line growth strategy, she was at the meeting. liz: david, are you feeling lucky? david: yes. liz: the powerball jackpot at a massive $500 million, but before you run out to buy your ticket, we're going to tell you what the real payouts are. i know that won't stop you, nonetheless, you'll still get a bunch of coin. is and where the money actually goes -- and where the money actually goes. ♪ [ male announcer ] this is steve. he loves risk.
Current
Nov 27, 2012 3:00am PST
are not really a fiscal cliff at all. but actually more of a fiscal slope. that is because if congress cannot reach a compromise, the president still has the authority to push back some of those big changes. and lawmakers say the markets should easily recover even if no deal is reached until early next year. more bill next. stay with us. going to do the young turks. i think the number one thing that viewers like about the young turks is that we're honest. they know that i'm not bs'ing them with some hidden agenda, actually supporting one party or the other. when the democrats are wrong, they know that i'm going to be the first one to call them out. they can question whether i'm right, but i think that the audience gets that this guy, to the best of his ability, is trying to look out for us. [ piano plays ] troy polamalu's going deeper. ♪ ♪ and so is head & shoulders deep clean. [ male announcer ] with 7 benefits it goes deep to remove grease, gunk and flakes. deep. like me. [ male announcer ] head & shoulders deep clean for men. ♪ ♪ [ mal
PBS
Nov 26, 2012 6:00pm PST
? >> one thing i'm worried about is the fiscal cliff issue, the tax increases and spending cuts that take place january 1 unless congress and the president reach a deal. businesses have been worried about that for months. maybe consumers are start-- maybe it's starting to creep into their thinking as well. we saw a weaker consumer sentiment number last week. that's thing to watch to worry about as we wonder what the holiday season will be like. >> brown: nariman behravesh, is it strange or do things really change? on the one hand, we want people to get out and spend, but on the other hand, we still talk about over-spending and spending money people didn't really have was part of the problem that got us into this state in the first place. so what's-- that sounds like a little bit of a disconnect. where are we on that? >> well, i think neil is right in saying consumer finances are in much better shape right now. so in that sense, the kind of spending we're seeing now is more sustainable. it's healthier in a sense. debt levels are down. people are not taking, say, home equity out to spend on
FOX News
Nov 26, 2012 4:00pm PST
over the fiscal cliff at the end of the year. it's pretty new and that's when pretty much everybody's taxes will go up if congress and the president can't cut a deal. g.o.p. leaders insist they still do not want to raise tax rates. instead, they say they would rather close loopholes and limit deductions. the white house says frankly that's not good enough. aides say president obama spoke with the house speaker john boehner and the senate majority leader harry reid over the weekend. and the president is confident they can work out some sort of agreement. mike emanuel on fox top story live in the d.c. newsroom tonight. mike, it looks like some republicans are changing their tunes. >> shep, republicans say they favor both major spending cuts and additional revenue from tax reform with lower tax rates. the pledge you mentioned is identified with americans for tax reforms grover norquist who has gotten many republicans to promise they won't vote to raise taxes. south carolina senator lindsey graham is pushing back saying capping deductions would help generate revenue. the top republic on
CNN
Nov 27, 2012 11:00am PST
it with me, 35 days to avoid the dreaded fiscal cliff, the huge package of tax hikes and spending cuts set to take effect january 1 if congress and the president do not cut a deal. we're told they have been talking behind the scenes and president obama has already hosted congressional leaders for a post election sit-down. but the president is also launching a new pr effort, a campaign, some are calling it here, starting with the white house meeting today, of small business owners. then tomorrow, the president hosts more business owners and a group of middle class americans who would be hurt if the tax hikes take effect the first of the year. then friday, a campaign style stop in pennsylvania, a toy factory of all places, highlighting the importance of middle class consumers in this holiday season. but back in washington, senate leaders, they are speaking out. you have democrat harry reid saying the president won the election. and it is time for republicans to fall in line. meantime, republican mitch mcconnell not impressed with the president's plans to go back on the road. take a listen. >
ABC
Nov 27, 2012 1:40am PST
: the senate's back in session, and the countdown to the fiscal cliff now stands at five weeks. if congress doesn't act, $650 billion in spending cuts and tax increases automatically go into effect on january 1. there are now increasing signs that republicans may be willing to deal on the most controversial issue -- taxes. but for many republicans, doing just that would mean breaking a pledge to not raise taxes. and taking the political risks that come with it. the "no new taxes" pledge is the brainchild of grover norquist, president of americans for tax reform. >> what the pledge does, of course, allows elected officials to make it clear openly to the american voters where they stand. >> reporter: norquist may not be a household name outside the belt kwai, but here in washington he carries significant weight as evidenced by the hundreds of republican lawmakers who have signed his pledge over the years. even as top republicans signal they are willing to compromise there is still a catch. the white house indicated everything is part of the discussion. >> all three legs of this will have to b
CNBC
Nov 27, 2012 2:00pm EST
much money would that save us? >> we have no idea how much exact think would save but the fiscal cliff right now a band-aid on top of this larger fiscal problem. the real question when is the federal government and congress getting serious about make the cuts they need to protect the debt long term and fay off? >> absolutely the problem. put a band-aid over the fiscal cliff. okay. we ticked that one off. then a lot of long-term problems to solve here. i would like to ask you though, robert, because you, along with many other people who talked to us on cnbc, their wish list of what they would like that is a wish list. how realistic is it? >> not that realistic, but it could happen because if the tax rates are secondsed to 2013 you are going to have an opportunity for major tax reform and maybe an opportunity to really look at the federal budget and see what can be cut. >> robert, thank you very much for talking us to here on cnbc. >>> we are going to head to the west coast to the l.a. auto show in a second where we talk to the ceo of volkswagen on why a top down approach is really payin
ABC
Nov 27, 2012 5:00am PST
to avoid the fiscal cliff. automatic tax hike and spending cuts for all americans unless congress and the president can reach compromise. biggest obstacle of no tax increases of any kind signed by most republicans. grover norquist is behind that pledge and has convinced thousands of republicans to sign in exchange for helping them get reelected. with fiscal calamity on the horizon some gop lawmakers are changing their tune. >> i will violate the pledge, long story short, for the good of the country. >> president has made clear he will not sign a bill that extends the bush era tax cuts for those making more than $250,000. >> some republicans open to breaking the say they will did it by closing tax loopholes they say entitlement reform has to be part of the discussion. >>> general motors has its eye on california to lunch a new electric car model. -- to launch a new electric car model. >>> an all-electric version of the chevy spark next summer starting in california and oregon nor less than $25 thaw -- $25,000, after a tax credit. if you are looking for the new wii-u. nintendo scram
CSPAN
Nov 27, 2012 5:00pm EST
to france. >> senate majority leader, harry reid said today he remains hopeful congress can prevent fiscal cliff. he spoke to reporters in the capital. >> we had a meeting with the leaders appear in the white house. it went very well. the problem before thanksgiving after the election and since that time there's been little progress with the republicans, which is disappointing to me. they've talked happy talk about doing revenues, but we'll never couple weeks to get something done. so we have to get away from the happy talk and start talking about specific things. in one month, taxes are set to rise for all americans. we passed in the house -- i'm sorry, we passed in the senate a piece of legislation to protect people making less than $250,000 a year. we have rejected on a bipartisan basis the republicans effort to extend tax cuts for everybody. those are the measures we've dealt with on the senate floor. if we fail to reach an agreement, the average middle-class family will see their taxes go up by $2200 a year. as i've indicated, the senate has acted to stop that analysis one vote away f
PBS
Nov 26, 2012 7:00pm PST
.s. financial experts say american consumers could spend $200 billion less due to the so-called fiscal cliff. the potential financial crunch involves automatic spends cuts coinciding with tax increases. it will occur at the end of this year unless opponents in congress find a compromise. the white house on monday released an estimate upon middle income earners. a family of four earning 50 to $80,000 will see taxes rise by over $2,000 a year. the increase will prompt shoppers to tighten pursestrings by $2 billion. members of the democratic and republican parties oppose an income tax rise for the middle class. democrats want the wealthy to pay more while the republicans are against such a hike. the parties start talk this week. now let's get a check on the markets. taking a look at the currency market. the euro reached a one-month high of 1.3 against the dollar and that's after the news that the euro zone ministers reached an agreement on the greek bail out. euro dollar quoted at 17.2992. now turning to stocks. tokyo shares are up slightly as bargain hunters are buying back recent decliners. n
CSPAN
Nov 27, 2012 10:00am EST
to us, our kids, and grandchildren. even though it's not part of a fiscal cliff discussion, we should create a commission that will report back to congress for a vote by the end of the next calendar year. now let's talk about the two toughest elements when it comes to entitlements, medicare and medicaid. medicare and medicaid in sure about one-third of all americans. it represents about 20% of our budget. it is a real challenge to us. one touchdown and amended, medicare is born to run out of money in 12 years. that's scary. we have so many americans, almost 15 million americans and the number is growing. yesterday in america, 10,000 people reached the age of 65. it happened again today. it's going to happen tomorrow. an it will happen every day for the next 18 years. these are people who paid in over a lifetime in the social security and medicare and fully expect the protection which they have invested in to be there. and it has to be there. so we need to take an honest look at medicare. i happen to believe the paul ryan approach was not the right approach to say the least. i thought
FOX News
Nov 26, 2012 6:00pm PST
the dangers of going over the fiscal cliff and what that means for our economy, that there's too much stubbornness in congress, that we can't even agree on giving middle-class families a tax cut, then middle-class families are all going to end up having a big tax hike. that's going to be a pretty rude shock for them, and i suspect will have a big impact on the holiday shopping season, which in turn will have an impact on business planning and hiring, and we can go back into a recession. >> sean: republicans hate big beared and santa claus. don't buy this hype, such as letting the bush cuts expire, are not the answer to tackling this deficit. in fact, during the 2012 fiscal year the federal government cost $9.7 billion to run each and every day, but the additional revenue from letting the bush tax cuts expire only amounts to around $82 billion a year, meaning the government would be funded for a whopping 8.5 days if in fact the president wins this fight. sadly the real reason we've reached this point is because our elected representatives simply have no idea how to stop spending your m
CBS
Nov 27, 2012 6:00am PST
outgoing secretary of state hillary clinton. >>> more republicans say the looming "fiscal cliff" is forcing them to reconsider their no tax increase pledges. several members of congress now say they are open to raising revenue by limiting deductions for the wealthy. but not by raising their taxes. >> without compromising our principals, we recognize that none of us runs this town. >> today democratic senator dick durbin plans to lay out a proposal for a bipartisan group, the gang of 8, who have been working for a plan to reduce the national debt. if lawmakers don't pass a plan by december 31, tax hikes and budget cuts will kick in. >>> running the risk of autism. the link between pollution and pregnancy. >> plus some of the best child athletes in the country. the bay area kids who have a chance at the ultimate prize. >> but first, stranded at sea. how two men found themselves like this in a dangerous rescue after the break. when i take a picture of this check, it goes straight to the bank. oh. oh look the lion is out! no mommy no! don't worry honey, it only works on checks. deposit checks f
CNN
Nov 27, 2012 9:00am PST
the president and congress, don't go over the fiscal cliff? could those numbers change? could it be a better economic picture all around? >> yes, absolutely. because a lot of what's factored into the forecasts, not so much with the cliff but also with the other forecasts, is how they -- the consumer confidence effect. we've had consumer confidence numbers in the u.s. today, we've seen the numbers for the thanksgiving black friday and cybermonday. we're starting to see how things are projecting simply on the prospect of what might happen. yes, things could get better if they solve problems. i don't want to be the complete -- you must remember, no one's talking about solving the problems at moment. people are talking about preventing the worst from happening. there is a huge gap between one and the other. >> and tell us about obviously the fiscal cliff being the tax hikes and the spending cuts, how does greece factor into this as well? we see protests, how does that relate who-to-what's happening in the united states? >> greece slowly, surely, painfully, undeniably, inevitably, moving to the p
CNN
Nov 26, 2012 6:00pm PST
tonight teetering on the edge of the fiscal cliff about 36 days to go until fax increases kick in. the white house and congress are playing a high stakes game of let's make a deal. president obama spoke with john boehner this weekend and expressed confidence the deal can't be reached before the deadline. that's what most americans want. in the the latest poll. >> when you're $16 trillion in debt, the only pledge we should make to each other is to avoid. >> you signed it 20 years ago, 18 years ago is for that congress. the world has changed. >> joining me now is the man in the middle of this storm, grover norquist. grover, welcome to you. >> good to be with you. >> you can't comply on the bounty the mutiny has begun: >> it's funny to watch a senator or congressman who got himself elected by promising the citizen of his state that he would go to washington to reform government and not to pay taxes. when the going gets rough he wanted to debt ceiling increase. the same cast of chakts are turns in the homework for the second tyne two years later and there's not a snowball rolling. the
NBC
Nov 27, 2012 5:00am PST
is one vote away from avoiding the fiscal cliff. >> if a budget deal is not reached by the end of the year, automatic spending cuts and tax hikes will kick in. >>> here is a very interesting study. new this morning, bay area breast cancer rates are on the rise. that according to a new study released overnight. as the research shows, the numbers are causing some concern in certain areas. marla tellez is in our newsroom with all the new findings. >> reporter: jon, good morning. 10% to 20%. those are the numbers that are causing concern when it comes to breast cancer rates in the bay area. specifically the california breast cancer mapping project found portions of san mateo, santa clara and alameda counties had breast cancer rates that were 10% to 20% higher than the state average from 2000 to 2008. high rates were also found in the north bay in portions of sonoma, napa and solano counties. however, the study does not name a cause for these higher rates. but it has long been known breast cancer risk factors include taking certain hormone replacements, having no children or few chi
MSNBC
Nov 27, 2012 7:00am PST
. the fiscal cliff is a bluff. now, defaulting on the debt, that's something real. you could spark some global financial crisis. but the fiscal cliff, people are going to wake up january 2nd, 3rd, 4th, 5th, and nothing substantial will have changed. because these are cuts that are phased in, it'll take a long time for the withholding to start hitting people's paychecks, and even after withholding starts hitting people's paychecks, you're not going to see an immediate change in spending that would have some type of immediate and cataclysmic effect on the economy. what does immediately change is december you have the bush tax rates in effect. january, you have the clinton tax rates in effect. democrats are better off negotiating from the clinton rates and then they're saying, okay, look, here are the rates, we're going to bring this down, we're going to bring this down. we're going to leave these how they are. how would you like to vote for this? are you going to oppose this? and people didn't really vote for compromise necessarily this election. they overwhelmingly elected the president, they g
PBS
Nov 26, 2012 4:30pm PST
care, and that means any grand bargain to avoid the fiscal cliff will slice away aone of the nation's most popular programs. >> medicare is clearly in the gunsights. >> reporter: it's possible congress and the president could agree to save $300 to $400 billion from medicare by cutting fees for doctors and hospitals. but analysts worry slashing payments won't make the health care system more efficient. >> this is not really a way to structurally change medicare and if you don't change the underlying incentives, you don't get long-term savings. >> reporter: progressives at the center for american progress say the government could save close to $150 billion by squeezing the prices the government pays for drugs. but many of the president's allies reject the idea of aggressively raising co-payments for patients. and they also consider benefits based on a patient's financial situation a risky idea. >> if people want to ask the wealthy to pay more, the time to ask them to pay more is when they can afford it, which is to say when they are working, not when they are retired. so they way to d
CBS
Nov 27, 2012 7:00am PST
cliff. it takes place in 35 days if congress doesn't act. >> he meets today with small business owners at the white house. nancy cordes is on capitol hill where noters are still working on a budget deal. nan seerks good morning. >> good morning, norah and charlie. >> everyone on capitol hill has returned from thanksgiving recess insisting they are ready to compromise and they think a deal can be reached before the deadline. the outlines of that deal are still far from clear. we know it's going to involve a mix of spending cuts and tax revenue increases. but how much and where all that money will come from is still a mystery. top aides in both the house and the senate tell us that despite the fact the president started these negotiations talking with all the leaders at the house and the senate at this point he's primarily dealing with one person. that's house speaker john boehner. that's because any deal that involves raising tax revenue will face its biggest hurdle in the house of representatives. republicans traditionally have been very opposed to tax
KRON
Nov 26, 2012 5:00pm PST
at the last minute negotiations congress is facing as the fiscal cliff and those near. pieces of confetti at macy's thanksgiving day parade last week are created quite a buzz. investigation is under way after a closer inspection of that can fatty reveal some personal information. and a lawsuit over the severe beating of a giants fan outside of dodgers stadium last year. look at you guys with your fancy-schmancy u-verse high speed internet. you know, in my day you couldn't just start streaming six ways to sunday. you'd get knocked off. and sometimes, it took a minute to download a song. that's sixty seconds, for crying out loud. we know how long a minute is! sitting, waiting for an album to download. i still have back problems. you're only 14 and a half. he doesn't have back problems. you kids have got it too good if you ask me. [ male announcer ] now u-verse high speed internet has more speed options, reliability and ways to connect. rethink possible. >> we're 36 days away from the fiscal cliff. lawmakers say the stakes are very high. the question tonight is that compromise in the air? >>
PBS
Nov 26, 2012 4:00pm PST
cuts at the end of this year. it is what is known here as falling off the fiscal cliff. despite warnings, the global consequences -- and the global consequences of falling off that cliff, can washington he managed -- can washington manage it? thank you for joining me. the markets are looking in america and wondering whether politicians will be able to avoid this fiscal cliff. are things headed that way? but i think eventually they will. the good news -- >> i think eventually they will. the good news is that it is more like a fiscal beach. it is not like the debt ceiling. it is not a sudden that situation. there is a bit more flexibility. but one of the issues emerging is what the attitude of richer americans will be and whether they will accept the need to pay higher taxes. you probably read, as i did today, a very interesting op-ed by warren buffett, who points out that early in his career in the 1950's and 1960's when he was making a lot of money, the tax rate was many times higher than it is today. he is calling on rich americans to pay up. >> is warren buffett and out liar i
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